Hillcrest Limited used the standard option to calculate provisional tax the 2018 tax year. The RIT for the 2017 tax year was $120,000. The company paid all instalments on time. When the company’s accountant filed the company's 2018 tax return on 7 July 2018, he calculated RIT of $192,000. The accountant got the balance from the myIR secure online services account on 9 September 2018 and paid the end-of-year tax and interest right away. IRD charged the interest at a rate of 9.21% to 7 May 2018 and then 8.27% as late payment after 7 May 2018. Calculate the 2018 provisional tax and the instalments on the instalment dates and the payment or refund on 9 September 2018.

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